Philippines
Mizuho Bank to invest $61m in Philippine digital bank operator Tonik Financial
The bank hopes to cash in on the Philippines growing digital finance sector.
Philippines’ BSP announces countermeasures against fake banknotes from ATMs
The banking regulator earlier warned the public of counterfeit notes from ATMs.
Merger of Philippine banks Landbank, UCPB to take effect on March
All accounts under UCPB will be transferred under Landbank.
Philippines' central bank warns public of fake banknotes from ATMs
The public is urged to examine banknotes carefully after using a machine.
Bad loans of Philippine alternative lenders to decrease in 2022: study
The rate of their bad loans has hovered around 10% to 10.5%.
Union Bank’s capital buffers to weaken following Citi purchase: analyst
Any potential earnings boost remain uncertain; whilst reduced capital will take years to rebuild.
Philippine banks’ bad loans total $9.41b in November 2021
The figure is a slight improvement from October’s gross NPLs.
AUB launches Mastercard QR card payment solutions in the Philippines
AUB PayMate merchants can now accept Mastercard payments through QR codes.
UnionBank to buy Citi’s Philippine consumer banking franchise for $908m
Around 1,750 Citi employees are expected to transfer to UnionBank.
Philippine-based BDO to reimburse 700 clients hit with online fraud
Clients allegedly lost thousands from unauthorised transfers to a UnionBank account.
UnionBank in talks to take over Citi’s consumer banking assets in the Philippines
Discussions between the two banks are at the preliminary stage.
Philippine financial regulator mulls offline digital payment solutions
The move is part of the BSP’s Digital Payments Transformation Roadmap.
ADB boosts 2019-2030 climate financing goals to $100b
The bank expects its own climate financing in 2019-2021 to reach $17b.
Philippine-based Cantilan Bank, AFIN launch digital banking service
They aim to deliver cashless financial services to the Philippines’ rural unbanked.
CIMB Bank PH's gross transaction value triples in nine months
The bank now has nearly 5 million customers in total, and almost 1 million lending customers.
Only six new digital banks in the Philippines for now: BSP head
All nine additional applicants failed to submit documents.
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